Press release
Sales of 360-degree wireless cameras are projected to increase at a CAGR of 15.3% from 2023 to 2033
360-Degree Camera
A 360-degree camera, characterized by its omnidirectional recording capabilities capturing views in every direction simultaneously, is expected to experience heightened demand. This innovative camera system offers an enhanced visual flow by recording a full 360-degree view, ensuring high image quality with extra-high resolution and zoom levels.
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In the realm of robotics, 360-degree cameras play a crucial role in addressing challenges related to simultaneous localization and mapping. They contribute to improved optical flow and visual odometry. Moreover, these cameras find increasing applications in various vehicles, aiding drivers by providing a comprehensive view of their surroundings. They enhance driving safety, raise awareness of potential hazards, and contribute to overall vehicle safety.
The global market for 360-degree cameras is estimated to have reached US$ 1 billion in 2023, with a rapid forecasted increase at a CAGR of 21.4% from 2023 to 2033. The market is anticipated to touch the US$ 7 billion mark by 2033. The demand for 360-degree wireless cameras is expected to expand at a CAGR of 15.3% during this forecast period.
Key Insights from the Market Study:
The global 360-degree camera market amounted to US$ 1 billion in 2023.
The demand for 360-degree cameras is projected to increase rapidly at a CAGR of 21.4% from 2023 to 2033.
The global market is forecasted to reach US$ 7 billion by 2033.
The demand for 360-degree wireless cameras is anticipated to expand at a CAGR of 15.3% during the forecast period.
North America accounted for a 36.5% share of the global market in 2022.
The adoption of 360-degree cameras is on the rise due to the significant demand for augmented and virtual reality (VR/AR) in video games and interactive entertainment worldwide. These cameras eliminate the need for multiple conventional cameras, reducing installation time and costs. The adoption is expanding across various sectors such as military & defense and automotive, presenting substantial revenue opportunities for manufacturers.
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Major Stakeholders in the 360-Degree Camera Market:
LG Electronics, Inc.
GoPro, Inc.
Nikon Corporation
Samsung Electronics Co., Ltd.
Panasonic Corporation
Facebook, Inc.
ImmerVision Enables
HumanEyes Technologies Ltd.
Key Segments of 360-Degree Camera Industry Research:
By Camera Type:
Single
Professional
By Connectivity:
Wired
Wireless
By Resolution:
High Definition (HD)
Ultra-high Definition (UHD)
By Vertical:
Media & Entertainment
Consumer
Military & Defense
Travel & Tourism
Automotive
Commercial
Healthcare
Others
By Region:
North America
Latin America
Europe
Asia Pacific & China
Middle East & Africa
Regional Analysis:
North America dominates the global 360-degree camera market, with the United States contributing significantly to the regional market due to the soaring demand for VR headsets. The Asia Pacific and Europe regions are following North America in terms of growth.
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Competitive Landscape:
Key players in the 360-degree camera market are employing various strategies for growth, including technological partnerships and collaborations, mergers and acquisitions, new product introductions, regional expansion, and research and development activities. Additionally, several startups are entering the global market with innovative offerings.
Examples of Recent Developments:
Indian startup DreamVu offers a single-sensor-based, 360-degree camera with depth sensing, providing augmented navigation skills to autonomous robots and real-time 360-degree, 3D video capture.
In July 2021, Mistika VR and Insta360 partnered to enhance flexibility and control over the operation of the Insta360 Pro camera in the post-production workflow.
GoPro introduced the over-capture capability for the Fusion 360-degree camera for Apple devices in June 2021.
Key Questions Covered in the 360-Degree Camera Market Report:
What is the projected value of the 360-Degree Camera Market in 2023?
At what rate will the global 360-Degree Camera Market grow until 2033?
Which factors are hampering the growth in the 360-Degree Camera Market?
Which region is expected to lead in the global 360-Degree Camera Market from 2023 to 2033?
What are the factors driving the 360-Degree Camera Market during the forecast period?
What is the expected market value of the 360-Degree Camera Market during the forecast period?
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global 360-degree camera market, providing historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
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